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Definitions
Power of Attorney
You empower someone else to act on your behalf. Technically, this person becomes your "Attorney in Fact," but is more commonly referred to as your "Agent."
General Power of Attorney
Provides your Agent with the broadest authority possible. It says that at any time – and in just about any capacity – your Agent can conduct business in your name. The Agent can be given great discretion.
General Durable Power of Attorney
This is a General Power of Attorney that remains valid even during your incapacity.
Healthcare Power of Attorney
This type of Power of Attorney outlines the specific medical decisions that you would like to see made in the event of your incapacity and appoints an Agent to carry out your wishes.
Gifting Language
Special language that may be drafted and included with your Trust document and Power of Attorney to give authority to gift assets to accomplish planning goals.
Medicaid Triggers
These "triggers" or events can put into motion the shift of assets out of the name of the person who is incapacitated in order to qualify for Medicaid benefits.
Conservatorships/Guardianships
This is the court-supervised proceeding which names an individual or entity to manage the affairs of an incapacitated person.
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Don't forget, our law firm's objective is to make a difference in the lives of our neighbors. We offer free consultations on a variety of estate planning areas including this one. To request a free, no obligation consultation, please call us at (772) 398-0720 or (772) 398-0720 or fill out our online request form and one of our legal assistants will call to schedule a convenient time for you.
Free Report
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Definitions
Useful incapacity planning/estate planning terminology defined.
Frequently Asked Questions (FAQs)
The most commonly asked questions about incapacity planning are answered here!
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